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Sellers set prices of some items such as tickets in ad- vance of the event. These items are sold in the primary market that involves the original seller and buyers. If preset prices turn out to be below the equilibrium prices, shortages occur and scalping in legal or illegal secondary markets arises. The prices in the secondary market then rise above the preset prices. In contrast, surpluses occur when the preset prices happen to exceed the equilibrium prices.
Prepare an salary statement for the month utilizing the contribution format and the variable costing method.
Mention and describe the three theories for why the short-run aggregate-supply curve is upward sloping.
Eagle Properties, a real estate investment and sales firm, presents a form contract to its customer Floyd, who wants to buy a certain quarter acre of land in a proposed housing subdivision that Eagle is marketing.
A firm uses a single plant with costs C = 160 + 16Q + .1Q 2 and faces the price equation-Find the firms profit maximizing price and quantity. What is its profit?
The Joe firm is experiencing financial problems. Its dividends and earnings are falling at a constant rate of 7 percent per year. It's stock just paid a yearly common stock dividend of $1.50 per share;
Illustrate what effect would a period of rapid inflation likely have on the role of money.
Illustrate what impact could this have on the level of production and therefore the unemployment rate.
As we all know, at current it is illegal for parents who want to adopt a child to pay the birth mother for, or to offer to pay for, the babies they adopt.
A firm is using 20 units of labour and 30 units of capital to produce 4,000 units of output. At this combination the marginal product of labour is 50 and the marginal product of capital is 40.
Explain why does the magnitude of price elasticity differ in a and b above, although the same set of price-quantity combinations are used to compute the price elasticity of demand
" Technological change eliminates thousands of jobs every year. Unless something is done to slow the growth of technology, ordinary workers will face a bleak future of low wages and high unemployment."
Elucidate the economic cost of most international trade less than the economic benefit of that trade for both the companies and countries.
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